Australian market futures dip as US stocks surge on Amazon earnings
ASX 200 futures pointed to a roughly 1% drop this morning, even as Wall Street indices rose on a 15% jump in Amazon shares after strong cloud revenue.
Futures for Australia’s benchmark ASX 200 were trading about 1% below the previous close, suggesting a sharp opening loss. In contrast, major US markets closed higher, with the S&P 500 up 0.7%, the Dow 0.5% and the Nasdaq gaining 1.0%, driven largely by a 15% surge in Amazon shares after the retailer posted robust cloud computing revenue. The Australian dollar modestly appreciated to 70.45 US cents.
Commodity prices showed mixed moves, with gold down 1.5% and oil futures rising over 1%.
Why it matters
The story shows how Australian investors may face losses even as US markets rally on strong tech earnings.
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